Experts Urge Mexico to Revamp Economic Strategy for Nearshoring Advantages

Experts call for Mexico to revise its economic tactics to benefit from the growing nearshoring movement, which brings production closer to the market.

Arturo Oropeza highlights leading nations like the USA and Germany adapting strategies due to global trade evolution.

Oropeza, during his book launch on nearshoring, highlights this trend as a critical resource, urging Mexico to update its economic policies to keep pace.

He, alongside the Business Coordinating Council, pushes for an overhaul in Mexico’s economic direction.

Alejandro Malagón, leading the Confederation of Industrial Chambers, argues for a detailed industrial strategy to harness nearshoring for growth.

He advises on adopting transparent policies and encouraging renewable energy to improve competitiveness.

CCE’s Francisco Cervantes suggests investing up to 3% of Mexico’s GDP in infrastructure and maintenance from 2025 to 2035.

He believes this will make Mexico more appealing for foreign investment, potentially doubling it in five years.

Cervantes views nearshoring as a chance for Mexico to significantly advance its economy, especially as industrial investments shift towards North America.

This move comes as Mexico’s economy saw 3.2% growth in 2023, with forecasts promising steady growth in the coming years.